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People cold calling with "investment proposals"

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    People cold calling with "investment proposals"

    So I've recently arrived in the UK, and have my CV posted on a couple of job websites. Who knows where this information goes...

    For the last four days, I've had a repeat phone call from somebody claiming to have "very privileged information" about a company, and then namedrop all sorts of companies like Mongomery Asset Management, UBS, Fasco etc who are all supposedly guiding this company through to IPO and they are looking for Private Equity investors like myself..

    I'm steering well clear obviously and have told them they have zero trust and to not bother calling back - it's certainly not how I make my investment decisions at any rate. But they call every day wondering if i've changed my mind.

    Anyone else get this sort of thing? While I won't be giving them any money or any details, given their cold call approach - do legit companies actually do this sort of thing in the UK?

    cheers

    #2
    Boiler room.

    Comment


      #3
      Tell them that their call is important to you, but you are current experiencing unusually high call volumes, and you will answe their call as soon as possible. Then put the phone by your side and get on with your day.

      Comment


        #4
        Boiler room scam. Not FSA regulated. Barge pole touch not with do.

        Comment


          #5
          Originally posted by onefortheroad
          Anyone else get this sort of thing? While I won't be giving them any money or any details, given their cold call approach - do legit companies actually do this sort of thing in the UK?

          cheers
          No they don't. It is illegal here.

          All companies selling financial services have to be registered with the FSA. You can look the firm up and see what they are allowed to do here
          http://www.fsa.gov.uk/register/home.do

          Watch out for firms with similar (but not exactly the same) sounding names....
          Last edited by Gonzo; 15 June 2007, 11:43. Reason: Bad spelling.

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            #6
            Thanks guys. I will get creative on how I tell them to not call again when they do so on Monday.
            Enjoy the weekend!

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